Allstate Corp Buys 19,353 Shares of T-Mobile US, Inc. $TMUS

Key Points

• Allstate Corp more than doubled its stake in T-Mobile US during the fourth quarter, buying 19,353 additional shares and lifting its holdings to 38,094 shares worth about $7.7 million.
• Several other institutional investors also increased their positions in T-Mobile, and institutional ownership now stands at 42.49% of the company.
• T-Mobile reported stronger-than-expected quarterly results, including $2.27 EPS versus $2.01 expected and revenue of $23.11 billion, while analysts currently rate the stock a Moderate Buy with an average target price of about $260.48.

Allstate Corp raised its stake in T-Mobile US, Inc. (NASDAQ:TMUS - Free Report) by 103.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,094 shares of the Wireless communications provider's stock after buying an additional 19,353 shares during the period. Allstate Corp's holdings in T-Mobile US were worth $7,735,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TMUS. Wellington Management Group LLP grew its holdings in shares of T-Mobile US by 47.5% during the 3rd quarter. Wellington Management Group LLP now owns 13,461,669 shares of the Wireless communications provider's stock valued at $3,222,454,000 after purchasing an additional 4,335,368 shares during the last quarter. Viking Global Investors LP grew its holdings in T-Mobile US by 81.7% in the 2nd quarter. Viking Global Investors LP now owns 2,845,316 shares of the Wireless communications provider's stock worth $677,925,000 after acquiring an additional 1,279,422 shares during the last quarter. Amundi grew its holdings in T-Mobile US by 44.6% in the 3rd quarter. Amundi now owns 4,109,084 shares of the Wireless communications provider's stock worth $924,380,000 after acquiring an additional 1,266,808 shares during the last quarter. State Street Corp grew its holdings in T-Mobile US by 4.7% in the 3rd quarter. State Street Corp now owns 24,234,085 shares of the Wireless communications provider's stock worth $5,801,155,000 after acquiring an additional 1,092,769 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in T-Mobile US by 33.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,477,553 shares of the Wireless communications provider's stock worth $832,438,000 after acquiring an additional 877,384 shares during the last quarter. Institutional investors own 42.49% of the company's stock.

Insider Activity

In other T-Mobile US news, Director Srikant M. Datar sold 3,291 shares of T-Mobile US stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $221.10, for a total value of $727,640.10. Following the completion of the transaction, the director directly owned 1,038 shares of the company's stock, valued at approximately $229,501.80. The trade was a 76.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael J. Katz sold 5,000 shares of T-Mobile US stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $195.81, for a total transaction of $979,050.00. Following the completion of the sale, the insider owned 181,930 shares of the company's stock, valued at $35,623,713.30. This represents a 2.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 13,090 shares of company stock valued at $2,618,500 over the last ninety days. 0.37% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. KeyCorp raised shares of T-Mobile US from a "sector weight" rating to an "overweight" rating and set a $260.00 price target on the stock in a report on Monday, April 13th. Benchmark reissued a "buy" rating on shares of T-Mobile US in a report on Thursday, February 12th. Wall Street Zen raised shares of T-Mobile US from a "sell" rating to a "hold" rating in a report on Saturday, May 2nd. Barclays reissued a "buy" rating on shares of T-Mobile US in a report on Friday, April 24th. Finally, Morgan Stanley assumed coverage on shares of T-Mobile US in a report on Thursday, April 16th. They issued an "overweight" rating and a $260.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $260.48.

T-Mobile US Trading Down 0.2%

Shares of NASDAQ TMUS opened at $191.11 on Wednesday. T-Mobile US, Inc. has a 1 year low of $181.36 and a 1 year high of $261.56. The stock has a market cap of $206.82 billion, a P/E ratio of 20.33, a price-to-earnings-growth ratio of 1.11 and a beta of 0.33. The firm has a 50-day moving average of $197.68 and a 200 day moving average of $202.03. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.09 and a quick ratio of 0.97.

T-Mobile US (NASDAQ:TMUS - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The Wireless communications provider reported $2.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.01 by $0.26. T-Mobile US had a net margin of 11.65% and a return on equity of 19.47%. The company had revenue of $23.11 billion during the quarter, compared to analysts' expectations of $22.98 billion. During the same period last year, the company posted $2.58 EPS. T-Mobile US's revenue was up 10.6% on a year-over-year basis. As a group, sell-side analysts expect that T-Mobile US, Inc. will post 10.65 EPS for the current fiscal year.

T-Mobile US Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Friday, May 29th will be given a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, May 29th. T-Mobile US's payout ratio is currently 43.40%.

T-Mobile US Company Profile

T-Mobile US is a national wireless carrier that provides mobile voice, messaging and data services to consumers, businesses and wholesale customers across the United States, Puerto Rico and the U.S. Virgin Islands. The company operates a nationwide mobile network and offers device sales, equipment financing and support services through retail stores, online channels and distribution partners. T-Mobile positions its products around bundled service plans, device offerings and value-added features for both individual and enterprise customers.

Product offerings include postpaid and prepaid wireless plans under the T-Mobile and Metro by T-Mobile brands, as well as connectivity solutions for small and large businesses.

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